With tax season finally at the end most tax preparers are focusing on their off season jobs/ businesses, however for many tax professionals this is a year-round business that brings in revenue long after the IRS has stopped accepting individual 1040 returns. If you have been looking for additional sources of revenue for your tax business or are trying to turn your seasonal tax office into your full time career then this is the article for you! Keep reading to discover additional services you can offer your clients to keep your doors open all year long.
Taxes for Businesses:
While an individual filing a 1040 return will only need your services once a year, businesses need year-round support for their taxes. I have seen many small businesses benefit immensely from the guidance provided by a qualified tax professional. Additionally, many of your current clients may own or work for a business in need of your services, making it fairly easy to get your first couple clients. If you want to start doing year-round taxes for a business then check out some of the courses offered here.
Payroll / Bookkeeping Services:
Businesses, especially small businesses, are often looking to outsource their bookkeeping and payroll departments to qualified individuals. You don’t need to be a professional accountant or CPA to work in these fields with the learning curve being very mild. There are even additional education courses you can take to expand your knowledge in payroll and bookkeeping here.
E-File Provider:
Also known as a Tax Service Bureau, e-file providers help other tax preparers by providing them with tax software as well as valuable support and insight based on their own work in the tax industry. You can even expand your service bureau to the point of no longer needing to file taxes yourself, instead 100% of your revenue comes from the tax preparers and software resellers who operate under your banner. To discover how to become an e-file provider click here.
Offer Training Courses:
This can become an additional service you offer as a tax service bureau or you can offer it as a tax preparer. Charging a fee for a training course educating others on how to file tax returns is a great way to diversify your revenue streams, it also gives you a pool of qualified candidates to hire as seasonal help for your tax business. If you are operating as a tax service bureau then those who participate in your training courses can become clients who you sell e-file software to, increasing your revenue even further!
In order to offer training courses to tax professionals you will need to become an IRS authorized continuing education provider here.
Offer Bank Products:
If you’ve been in the tax industry for any length of time then you likely have heard of or even used bank products in order to fund a tax return. Offering bank products, as part of being an e-file provider, will give you additional revenue from the service bureau fees that are associated with bank product funded returns. While the fees are never very high you will receive them on every return completed by a tax preparer using your bank products, meaning the fees add up quickly to form a core part of your revenue as a service bureau.
There are many other services you could offer clients during the off season in order to make your season tax business into a full time career! By offering these additional products and services you can diversify your revenue streams and enable you to grow your business empire!
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